Energy Transfer (NYSE:ET) Issues Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Energy Transfer (NYSE:ET) posted its quarterly earnings results on Wednesday. The pipeline company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.04), Briefing.com reports. The firm had revenue of $21.63 billion during the quarter, compared to the consensus estimate of $20.91 billion. Energy Transfer had a net margin of 4.85% and a return on equity of 12.17%. Energy Transfer’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS.

Energy Transfer Stock Performance

Energy Transfer stock traded down $0.02 during mid-day trading on Thursday, reaching $16.23. 20,695,464 shares of the company’s stock were exchanged, compared to its average volume of 12,321,025. The business’s fifty day simple moving average is $15.55 and its 200 day simple moving average is $14.44. The firm has a market capitalization of $54.68 billion, a PE ratio of 14.89 and a beta of 1.63. Energy Transfer has a one year low of $12.21 and a one year high of $16.40. The company has a quick ratio of 0.88, a current ratio of 1.10 and a debt-to-equity ratio of 1.37.

Energy Transfer Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 13th will be issued a $0.317 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.81%. The ex-dividend date is Friday, May 10th. This is a positive change from Energy Transfer’s previous quarterly dividend of $0.32. Energy Transfer’s dividend payout ratio (DPR) is currently 116.51%.

Analyst Ratings Changes

ET has been the topic of several recent analyst reports. UBS Group cut their price objective on Energy Transfer from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Citigroup upped their price target on Energy Transfer from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $19.00 price objective (up from $18.00) on shares of Energy Transfer in a report on Thursday, April 18th. Finally, Stifel Nicolaus lifted their price objective on shares of Energy Transfer from $18.00 to $19.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Energy Transfer presently has an average rating of “Moderate Buy” and an average target price of $18.14.

Energy Transfer Company Profile

Energy Transfer LP provides energy-related services. The company owns and operates natural gas transportation pipeline, and natural gas storage facilities in Texas and Oklahoma; and approximately 20,090 miles of interstate natural gas pipeline. It also sells natural gas to electric utilities, independent power plants, local distribution and other marketing companies, and industrial end-users.